Lenders are finding that women are less likely to default on loans than men. In FY23, women had a loan default rate of just 1.9%, while men’s rate was 2.5%. The number of women taking out loans and the size of their loans both grew in 2023. Government programs and better access to e-commerce have helped more women become part of the financial system. Banks are focusing more on offering loans to women, especially in self-help groups and joint liability groups, where women’s involvement in deposits and credit is rising.